The Lawyer Millionaire: Financial Planning for Law Firm Owners

Darren Wurz
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The Lawyer Millionaire: Financial Planning for Law Firm Owners Podcast

Delivering business and financial insights for ambitious law firm owners so you can enjoy more time, more abundance, and less stress, even if you’re still growing your practice

  1. 5 DAYS AGO

    Grow Your Firm Pt 2 – 5 Effective Steps to Growing Your Law Firm Sustainably (Ep. 79)

    As a law firm owner, the drive for expansion is undeniable. But rushing towards growth without establishing a solid foundation can lead to more harm than good. In the latest episode of The Lawyer Millionaire Podcast, host Darren Wurz outlines the critical steps necessary to ensure sustainable and effective business growth for your law firm. Darren discusses: * How to Identify and mitigate against significant risks that could jeopardize your firm’s stability and growth. * The importance of creating a well-defined vision and mission to direct all your firm’s activities and decisions. * How law firms can boost operational efficiency by improving their workflows and processes. * Building a strong Second-in-command to eliminate owner dependency. * How to maximize the efficiency of money. * The importance of building a positive culture that keeps talents and retains clients.   Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz

    26 min

  2. SEP 2

    Grow Your Firm Pt 1: The 4 Secrets to Growth that Every Law Firm Owner Should Know (Ep. 78)

    Are you neglecting the core drivers of your law firm’s value? While day-to-day operations and revenue generation are important, the real key to sustainable growth lies in intangible assets. In the latest episode of The Lawyer Millionaire Podcast, join host Darren Wurz as he uncovers the four C’s of intangible capital that can transform your practice and set it on a path to long-term success and profitability. Darren discusses: * The importance of investing in your team’s skills, knowledge, and experience. * How strong client relationships can lead to repeat business, positive referrals, and a steady influx of new clients. * How a strong reputation and network within the legal community can unlock new business opportunities and partnerships. * The importance of developing efficient systems, processes, and intellectual property for scalability and operational excellence. * How to leverage Human, Structural, Customer and Social Capital to skyrocket your firm’s success Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz

    24 min

  3. AUG 26

    Value Creator v. Lifestyle Owner: Which Are You? (Ep. 77)

    Are you merely treading water with your law firm, or are you building a thriving asset that could multiply its value? On this solo episode of The Lawyer Millionaire Podcast, host Darren Wurz unpacks the critical differences between lifestyle owners and value creators in the realm of law firm ownership. A lifestyle owner is typically focused on generating a steady income and maintaining a comfortable work-life balance, often at the expense of growth and future value. In contrast, a value creator is someone who builds their practice with the intention of increasing its market value, scalability, and long-term profitability, often leading to greater wealth and more significant retirement options.   Darren discusses: * The fundamental differences between a lifestyle owner and a value creators’ mindset. * Why you need a compelling vision to motivate your team and attract top talent. * How value creators can prepare for economic downturns and other potential risks. * Unique strategies to shift your mindset towards value creation. * How to setup your law firm up for long-term success. Resources: * Book a Call with Darren * Wurz Financial Services * Business Growth Planning for Law Firm Owners: * Brian LaBovick, Esq,Interview: * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz

    25 min

  4. AUG 19

    Unlocking Your Law Firm’s True Value Through Exit Planning (Ep. 76)

    As a law firm owner, are you prepared to secure the future of your practice? Transforming your life’s work into a legacy that stands the test of time is a complex, yet vital, endeavor. In this latest episode of The Lawyer Millionaire Podcast, host Darren Wurz provides a deep dive into exit planning—a critical business strategy that ensures the longevity and profitability of your firm.   Darren discusses: * The gloomy statistic that a majority of firms fail to sell and learn how proactive exit planning can safeguard your firm’s future. * How to formulate a compelling 10-year vision for your firm and break it down into actionable, quarterly objectives. * The critical attributes of a transition-ready law firm and understand why such firms are inherently more valuable and profitable * A unique three step value acceleration process of assessment, improvement, and decision-making to optimize your firm’s value. * The importance of documenting your processes and procedures * How integrating exit planning with best business practices can enhance your firm’s profitability and value.   Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz

    24 min

  5. AUG 12

    Legal Billing That Doesn’t Suck: Gwen Griggs’ Innovative Pricing Model (Ep. 75)

    Are you a law firm owner seeking to maximize your profitability and transform your business model? This episode of The Lawyer Millionaire Podcast is your gateway to innovative strategies and actionable insights that can drive your firm to new heights. In our latest episode, host Darren Wurz engages in a compelling conversation with Gwen Griggs, the trailblazing founder of Advos Pro and Advos Legal. Gwen discusses her revolutionary approach to law firm management and profitability, emphasizing the limitations of the traditional billable hour model and introducing her forward-thinking, deliverables-based pricing strategy. Gwen discusses: * How to accurately predict project scope and handle changes effectively. * The drawbacks of the billable hour model and the benefits of transitioning to a deliverables-based approach. * The importance of investing upfront to ensure long-term profitability. * Essential tips on transitioning and automating repeatable tasks to enhance efficiency and client satisfaction. * The benefits of agile methodology and how they can be applied to legal services. Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz   Connect with Gwen Griggs: * Linkedin: Gwen Griggs * Website: ADVOS Pro * Website: P3 Method * Website: ADVOS Legal * Website: ADVOS Pro Resources   About our guest: Gwen Griggs, co-founder of ADVOS legal and ADVOS Pro, has a background in Big Law and C-suite roles. In ADVOS legal, she and her partner built a new model, that – instead of hours – measures what matters to the client, team, and owner. (Click here for more about Gwen’s legal experience.) With ADVOS Pro’s training and systems, they help other firms break up with the outdated billable hour model and begin measuring their worth in expertise and results. Gwen’s superpowers are big-picture vision and client experience. At ADVOS Pro, she is leveraging her powers to transform the legal industry, so it delivers an incredible, fulfilling experience for lawyers and their clients

    32 min

  6. AUG 5

    Attracting High Value Clients with Brian Glass (Ep. 74)

    Are you tired of relying on unpredictable referrals and expensive online advertising to grow your law firm? What if we told you there’s a better way to attract high-value clients consistently? In this episode of The Lawyer Millionaire Podcast, we sit down with Brian Glass, an injury lawyer and co-founder of Great Legal Marketing, to uncover the secrets to building a thriving law firm through targeted, referral-based marketing.   Brian discusses: * How to attract high-value clients through targeted, referral-based marketing. * Strategies for maintaining open communication and transparency with referring professionals. * The power of polarizing marketing in attracting ideal clients and repelling those who don’t fit your criteria. * The significance of maintaining a social media presence for credibility and providing helpful information to potential clients * How to connect with clients on a personal level beyond just legal matters Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz   Connect with Brian Glass: * Linkedin: Brian Glass * Youtube: Great Legal Marketing * Instagram: Brian Glass * Facebook: Brian Glass * Tiktok: Brian Glass * Podcast: Life Beyond the Briefs * Website: benglasslaw * Website: GLM SUMMIT 2024 * Website: Great Legal Marketing   About our guest: Brian Glass is a partner and personal injury attorney at BenGlassLaw. His practice is limited to the representation of injured people against insurance companies and the people who hurt them. Insurance companies have endless sums of money to throw at the defense of these cases and he enjoys the David vs. Goliath challenge. Brian grew up in Fairfax where he still lives with his wife and three sons. He attended Robinson Secondary School and James Madison University. After college, he attended law school at the College of William & Mary, where he was named a Benjamin Rush Scholar for excellence in Health Law & Policy. Brian is licensed to practice in Virginia and Maryland. He is a member of the Fairfax Bar Association, the Virginia Bar Association, and the Virginia Trial Lawyers Association. He was recently named as one of the Top 40 Under 40 in Virginia by the National Trial Lawyers Association. He also holds the distinction of being designated as a Rising Star by SuperLawyers magazine each year from 2017 – 2023. This award recognizes only the top 2.5% of lawyers in the state. In April 2022, a Fairfax County jury awarded more than $4M to Brian’s client following a head-on collision with a drunk driver, including an extra $1,000,000 in punitive damages.

    31 min

  7. JUL 29

    How Leadership Unlocks Financial Success for Law Firm Owners with Scott Mason (Ep. 73)

    Are you a law firm owner looking to catapult your practice to new financial heights? Imagine unlocking the secrets to effective leadership through the timeless stories of Greek mythology. Our latest episode of The Lawyer Millionaire Podcast, “How Leadership Unlocks Financial Success for Law Firm Owners,” features the charismatic Scott Mason, who brings a unique twist to financial growth strategies for law firms. As a recovering attorney and former C-suite executive, Scott delves deep into the power of mythological tales to revolutionize your leadership approach and amplify your firm’s profitability. Scott discusses: * Leadership lessons from Greek mythology. * How business relationships, as exemplified by the Demeter and Persephone myth, impact your firm’s success. * The hidden costs of poor leadership and how they affect your bottom line. * Tips on developing charisma, even for introverts, to command attention and achieve positive outcomes. * The significance of emotional connection in client relationships and decision-making processes within legal services Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz   Connect with Scott Mason: * Email: Scott@MyFreedomRocks.com * Linkedin: Scott Mason * Youtube: Scott Mason: The Myth Slayer * Website: myfreedomrocks   About our guest: Recovering attorney and former C-Suite exec. Master of the mythic. Scott Mason is a speaker and coach who helps attorneys ignite their or their teams’ resilience, creativity, and sense of connection — to become better leaders and live lives that are epic. Find out more about Scott at MyFreedomRocks.com.

    29 min

  8. JUL 22

    Scaling Your Law Firm Nationally with Eddie Dabdoub (Ep. 72)

    For law firm owners aspiring to elevate their practice from local prominence to national dominance, our latest episode of The Lawyer Millionaire Podcast offers a treasure trove of strategic insights. We sat down with Eddie Dabdoub, the visionary founder of Dabdoub Law Firm, to uncover the secrets behind scaling your practice on a national level. Eddie’s journey from a small firm lawyer to a national player in disability insurance law is rich with insights, strategies, and actionable advice that will inspire and guide your path to expansion. Eddie discusses: * How to establish a niche within the overcrowded legal market to stand out against large firms with extensive marketing resources. * The importance of bringing marketing and IT infrastructure in-house for better control and efficiency in a larger operation. * Creating a strategic growth plan with clear benchmarks for five-year, one-year, and quarterly goals to guide your expansion journey. * How to build a talented team, implement incentive programs, and transition from micro-management to trusting your processes and people. * Understanding the tangible assets of your firm, such as cash flow and processes, and how they contribute to the overall value and potential sale of your firm.   Resources: * Book a Call with Darren * Wurz Financial Services * The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz * LinkedIn: Darren P. Wurz   Connect with Edward Dabdoub: * Linkedin: Edward Dabdoub * Twitter: Dabdoub Law Firm * Youtube: Dabdoub Law Firm * Facebook: Dabdoub Law Firm * Website: Dabdoub Law Firm     About our guest: EDWARD DABDOUB Founding Attorney Dabdoub Law Firm is led by nationally-known disability lawyer Edward Dabdoub. Born and raised in Kingston, Jamaica, he is one of five attorneys in his immediate family. Since becoming a lawyer, he has focused his law practice on representing people who are entitled to disability benefits from insurance companies. Why Disability Law? Eddie’s passion for helping people with disability insurance claims started when he was in law school. As a law student, Eddie helped a man suffering from chronic pain get back his long term disability benefits after his insurance company wrongly terminated payments, even though he was still disabled. After handling that case, he decided to dedicate his legal career to holding disability insurance companies accountable, and he built the Dabdoub Law Firm for that purpose. About His Practice Eddie represents clients at all stages of disability insurance claims. He has extensive knowledge of the Employee Retirement Income Security Act of 1974 (“ERISA”) since many of his clients’ long term disability cases are governed by the federal statute. With such a focus on disability insurance, Dabdoub Law Firm has successfully taken on the toughest opponents and have won major disability lawsuits.

    37 min
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5
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23 Ratings

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Delivering business and financial insights for ambitious law firm owners so you can enjoy more time, more abundance, and less stress, even if you’re still growing your practice

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